A Decision Making Model
December 2, 2021
Ratan Tata, the Chairman of the Tata Group, was once at a University interacting with a group of Management students when someone in the audience asked him, ” Sir, how do you make good decisions.”
Smiling wryly, Ratan Tata gave an unexpected response ” I take very little time worrying about making good decisions. Instead, I actually focus on making decent decisions. However, once I make decent decisions, I spend a lot of time and effort to ensure that the decisions I make become good decisions.”
This is one of the smartest decision-making models I have come across.
When options are polarised between good and not good, decision-making is relatively easy.
You don’t like cold weather. If the choice is between going to one of two great holiday destinations-One where the temperature will be 10 degrees Celsius and the other where the average temperature is likely to be 26 degrees Celsius- You will choose the latter. It is an easy decision.
However, in contrast, you struggle and agonize if you have to decide between similar choices, where there is very little difference to choose from. You look for ways to figure out which is the best option to choose from. But, unfortunately, you find it challenging.
This is where Ratan Tata’s sage advice comes in handy. Rather than agonizing about which choice to go with, you make a choice knowing that the options you are seriously evaluating are all decent. You, therefore, choose without worrying about whether the decision is right or wrong. And then, you focus your energy and efforts on ensuring that the choice you have made is the right one.
Sometimes, the success of the outcomes is in the quality of work and effort you put in, more than the choices you make.